Pernod Ricard posted a rise in full-year net profit on Thursday helped by higher U.S. demand for whiskey, a return to sales growth in China and tight cost control. Net profit for the year to June 30 rose 13 percent. to 1.39 billion euros (US$1.65 billion) on group sales of EUR9.01 billion, up 4 percent. Profit from recurring operations rose 5% to EUR2.39 billion. Fourth quarter sales rose 5%, reflecting an increase of 6% in America, 5% in Asia and 2% in Europe. Pernod Ricard set a target for a rise of 3% to 5% in profit from recurring operations for its 2018 fiscal year.
Financial service provider UBS released a survey revealing the likelihood of millennials to recommend different beer brands, which revealed that, compared to all consumers polled, every beer brand except Stella Artois, Dos Equis, and Miller have lower brand equity amongst millennials. Furthermore, recommendation rates amongst millennials went down over the last year across the board, with the exceptions of Dos Equis, Stella Artois, and Shock Top. UBS believes that the trend will likely continue, writing in the research note that “big spirits brands appear better placed than big beer brands.”
In 2016, the overall number of wineries increased from 702 to 725. Willamette Valley accounts for 73 percent of total tons crushed. Pinot noir accounted for 64 percent of all planted acreage and 57 percent of production. Yields were mixed with varieties such as Pinot blanc, Pinot gris, and Pinot noir seeing reductions, with varieties including Riesling, Syrah, and Merlot seeing increases. Case sales increased 10 percent to nearly 3.4 million in 2016, helped along by a 14 percent jump in national sales. Canada accounted for 41 percent of export sales.
In a recent appeal, alcohol distributors fought to gain a monopoly on commercial marijuana deliveries for the first 18 months of retail sales, arguing that such a monopoly was given to them by the recreational marijuana legalization law voters approved in November. This week, tax commissioners voted to uphold a determination by the Nevada Tax Department that there are not enough licensed liquor distributors to properly serve the state’s recreational marijuana market.